A large commercial insurance brokerage firm has started to sell limited-benefit health plans.
The brokerage firm, Hub International Ltd., Chicago, has launched the CoverEdge program, which provides administration services from Fringe Benefit Group, Austin, Texas, and low-maximum health insurance from either Pan-American Life Insurance Company, New Orleans, or a unit of Nationwide Mutual Insurance Company, Columbus, Ohio.
Hub is starting by offering the mini med program in the Northeast and expects to make the program available in all U.S. regions.
Although the mini med programs come low and, in some cases, very low benefit maximums, employers can offer plans that provide payments for routine doctor visits, check-ups and diagnostic procedures on a guaranteed-issue basis with no deductibles or pre-existing condition limits, Hub says.
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